Finding a Top Financial Advisor Firm in Palatine, Illinois
Are you looking for a financial advisor in Palatine, Illinois? SmartAsset's list of the city's top financial advisor firms can help you with your search. Below, we've listed qualifying firms by the amount of assets they manage, along with information about their account minimums, fee structures, typical clients and more. SmartAsset also has a free financial advisor matching tool that can connect you with up to three vetted financial advisors who serve your area.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 |
Detterbeck Wealth Management
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$224,008,484 | Varies based on account type |
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Minimum AssetsVaries based on account typeFinancial Services
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What We Use in Our Methodology
To find the top financial advisors in Palatine, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
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AUMFirms with more total assets under management are ranked higher. -
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Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher. -
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Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher. -
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Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Detterbeck Wealth Management
Detterbeck Wealth Management is a fee-only firm that serves both non-high-net-worth and high net worth individuals. This firm offers financial planning and investment management services.
There are variable minimum asset requirements needed to become a client, depending on the services you want access to. More specifically, the firm's Total Wealth Managing service has a $1 million minimum, whereas its Emerging Investor Program has a much lower $200,000 minimum. The firm reserves the right to waive or adjust either of these requirements.
Detterbeck is a fee-only firm. This means that it only receives compensation in the form of advisory fees from clients; it does not receive third-party sales commissions.
Detterbeck Wealth Management Background
Detterbeck Wealth Management opened its doors for business in 1999. Lester G. Detterbeck and Brett M. Detterbeck are the two principal shareholders of the firm. Lester Detterbeck serves as chairman of the board, secretary and treasurer, while Brett Detterbeck is the president, chief compliance officer (CCO) and head portfolio manager.
Additionally, Lester Detterbeck is a certified public accountant (CPA), personal financial specialist (PFS), certified financial planner (CFP) and chartered financial analyst (CFA). Brett Detterbeck is a CFP and CFA.
Detterbeck Wealth Management provides clients with two different types of advisory services. The first is investment management, which, aside from helping clients manage their investment portfolios, may also help clients find tax, retirement and other solutions to their financial issues. Financial planning services are designed to help clients achieve long-term financial goals. The firm also offers an automated investment program through Charles Schwab.
Detterbeck Wealth Management Investment Strategy
Detterbeck Wealth Management's advisors work with clients to develop a financial profile and an investment policy statement (IPS). This information-gathering phase includes taking note of each client's financial situation, tax situation, investment goals, tolerance for risk, liquidity needs and any other details that may be relevant when it comes to crafting a viable, long-term investment strategy.
Adviors at this firm do a significant amount of research and analysis when it comes to developing a client's portfolio. They use a combination of fundamental, technical, quantitative and qualitative analysis, along with several publically available sources of information, to help them make investment decisions. The firm typically takes a long-term approach to investing. Its core strategies revolve around fixed-income, equities or both.
